Gross sales up 8.3% to a record CHF 4 497 million (net sales: +7.8%).

 Brilliant performance in Group’s core business, Watches and Jewelry segment.

 Growth surge of over 50% in jewelry sector.

 Record operating profit of CHF 735 million and high operating margin of 17.1%.

 Net income up 21.3% to CHF 621 million.

 Strong operating and free cash flow.

 Proposed dividend distribution increased by 42.9%, bearer shares CHF 2.50 (previous year CHF 1.75) and registered shares CHF 0.50 (previous year CHF 0.35).

 Previous share buyback program totaling CHF 250 million concluded. Annual General Meeting 2006 proposal for a corresponding capital reduction through share cancellation.

 New share buyback program for a total value of CHF 300 million.

 Promising start to 2006, outlook for the current year optimistic.


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